Honestly, who can accurately predict the market trend now? It’s really like seeing a ghost. I myself am quite confused.

Do you remember last year? Once the market started to rise, all coins followed suit. Small-cap coins rushed to the front, competing to surge ahead—that scene was truly exciting. But now, everything has completely changed—the market is now a scattered mess.

In September, I confidently said that as long as $ACT breaks 0.02, the market will bottom out. How about that? Only it managed to crawl out of the ruins, while all other coins are lying on the ground. That’s absurd.

In the past, small-cap coins were the leaders. Today, whatever rises one day, the market follows the next. Now? Each coin fights its own battle, taking different paths, and even market makers are not in agreement. It’s not hard to understand; it’s just completely opaque.

This fragmentation in the market, to put it plainly, means it has lost its rhythm. The old methods of “sector rotation” and “leader effect” have completely failed. Now, each chain and each project must rely on itself—liquidity, fundamentals, storytelling—everything must pass the test. Making money has shifted from “everyone gets rich together” to “each one finds opportunities based on their own skills.”

In such an environment of uncertainty and lack of a main theme, investors are prone to fall into two traps: either being led by hot spots, chasing highs frequently, gradually eroding their principal; or foolishly waiting, watching opportunities slip through their fingers.

This forces us to think clearly about one question: when the overall market gains (β returns) become like a mirage in a mirror or a reflection in water, should we turn to look for assets with “intrinsic qualities”—that is, those that do not rely on market rotation and have stable independent value (α attributes)?

Simply put, can we find an asset whose value is fundamentally unaffected by market fragmentation, and doesn’t depend on the “care” of a big player?